Riding The Gravy Train

Beating the market is fun and profitable. This is how we do it.

Saturday, July 07, 2018

Easy Come, Easy Go


"Indeed, 70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third, according to the Williams Group wealth consultancy.

U.S. Trust recently surveyed high-net-worth individuals with more than $3 million in investable assets to find out how they are preparing the next generation for handling significant wealth.
"

Article: 70% of Rich Families Lose Their Wealth by the Second Generation






We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.


TSLA Stranger By The Day


Slate article: Elon Musk Needs to Stop Tweeting Things He Can’t Prove

"Musk’s harassment of Lopez is obsessive and deranged, to the point at which it should worry every shareholder of any company where he serves as CEO."


Article: Why I Canceled My Model 3 Order

"The shopping experience ended up being quite odd. Tesla’s Denver store did not have a Model 3 in the showroom or available for a test drive. I was told they will not get one for several months — the Model 3 is infamously behind  schedule. But still, Tesla is producing thousands of cars: Why not send 100 to their stores so people can see and drive before they buy?

I thought it was also odd that when I asked a salesman to show me pictures of the Model 3, he did a Google search. He did not even have pictures of the car on Tesla’s internal site (the one he used to show me pricing options). Tesla’s external site also doesn’t have photos of the Model 3, just a few videos."







We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.


Thursday, July 05, 2018

US Corporate Debt Tops $6 Trillion








We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.


Tuesday, July 03, 2018

TSLA in the News


Elon Musk ordered Tesla engineers to stop doing a critical brake test on Model 3

Shouting CEO, changing rules: inside Tesla's Model 3 building sprint

Tesla’s Engineering Chief Is Out After Taking Leave of Absence 

Tesla's stock extends drop; J.P. Morgan widens Q2 loss outlook amid higher 'burst production' costs

It will not surprise us if the coming bear market comes to be known synonymously with Tesla, like the crash in '08 is associated with companies such as Lehman Brothers and Countrywide Financial, and the bust in the early 2000's is associated with "dot-bombs" and Enron.
 






We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.


Monday, July 02, 2018

Tesla's Biggest Bear Says Musk 'Misleading'


Bloomberg Video link: Tesla's Biggest Bear Says Musk 'Misleading' on Model 3 Production

It's arguably better for bulls that Tesla's output is so highly suspect, since the more cars sold the more money the company loses:


"Put bluntly, there is no chance that Tesla can deliver what it needs to, in terms of scaling up revenues and improving profitability, to justify its market capitalization, without raising new equity along the way. Either Musk knows this, and really does not mean what he says, in which case he is being deceptive, or he does not, in which case he is delusional. Neither is a good character quality in a CEO, especially one at a young company that needs investors on its side."

Chart and quote from this excellent blog post.







We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.


Saturday, June 30, 2018

What Went Wrong With Eclipse?


Excellent article: What went wrong with Eclipse?

"A disaster of this size has many causes, but the most fundamental was a fantasy about the economics of designing, building and supporting airplanes. The company also predicted impossibly low empty weights, which then led to unattainable performance and range predictions, and it expected to accomplish all of this in record setting time.

[...]

We had seen magical things from the electronics industry, and electronic pioneers were part of Eclipse, so maybe their Silicon Valley knowledge could do the impossible in aviation. It was so compelling everyone wanted to believe. And thousands did.  

[...]

Eclipse founders were different from the established aviation industry in other ways, including an attitude that because they were right, the rest of us had to be wrong. "

Sounds like Tesla?

Amazing Article: Can Tesla Reinvent The Way Cars Are Made?

I’ve never heard anything like this, ever,” said Ron Harbour, an expert on auto plants.











We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.


Friday, June 29, 2018

TZA, SJB, Frightening Momentum Chart Study, TSLA


TZA has broken above a downtrend stretching back to summer of 2016.


We have several TZA positions.

SJB has broken above a downtrend on arithmetic scale dating back to February of this year, while at the same time breaking above a downtrend on logarithmic scale stretching back to October of 2011.  Seems bullish.

We have four existing positions in SJB already, and today added a 5th at $23.15

If you do not yet have SJB or have been thinking of adding more, now's a good time to buy.

Weekly, Monthly and Quarterly momentum measures in equities continue to deteriorate, and with the close of the 2nd Quarter today we can offer this compelling observation:


The arrows indicate the past 5 times that current momentum data was observed, such as exists today.

Possibly "this time it's different" but we doubt it, especially given underlying fundamentals are generally much worse than what was in evidence the past four times we had a similar setup.

Telsa Motors lost yet another key executive.

Related reading here, in a post from a week ago.







We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.


Thursday, June 28, 2018

How Low? Bitcoin, Gold and Equities Bubbles in Sync. TZA Chart


It's interesting when there's a correlation in bubbles, especially when they pop.   

Below we present a 1-year chart of the bitcon [sic] with a 1-year chart of the DJIA below it for comparison. 


We've shifted the DJIA to the left by about a month (noted via the blue line and ovals), so that the January pop in the stocks bubble is lined up with the December pop of the bitcoin bubble (noted by the thick vertical red line in the middle).

The thinner vertical red line on the right draws attention to the fact that for the past month bitcoin prices have dropped significantly, to new lows for the year.

It's very reasonable to expect stocks will also soon post new lows for the year.

And then some.

Here's another set of charts, showing the NASDAQ bust of 2000 on a weekly scale, with the current chart of the S&P 500 in daily scale aligned beneath it.  Below those, we've put a gold chart in monthly scale.


Now, does this pattern look familiar?


The purpose is simply to show that all cycles of boom and bust look very similar when charted.

Today the DJIA has posted its third consecutive close below its 200-day moving average for the first time in over two years.  Please consider that it's perfectly reasonable to expect all major indexes to drop to at least the respective 200-week moving average.

For the S&P 500 that'd take a 16% drop from its present level.  For the NASDAQ that'd take a 25% drop, and a 20% drop for the RUSSELL 2000.  For the DJIA an 18% drop.

Such moves would likely result in our levered short positions doubling, or more.

We're not stating that will happen.  To do so would be totally irresponsible since no one can know the future.

We do know the past however, and what we are stating is that such moves would be totally normal and unsurprising as evidenced by the charts above. 

TZA 2-Year Chart, showing established down trend in green likely soon to be broken:








We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.


Wednesday, June 27, 2018

Bad News


Tuesday the DJIA closed below its 200-day moving average for the 2nd day in a row.

That's the first successive two-day close below this key moving average since March of 2016.

There was just one single-day close below the 200-day moving average since then, which was in June of 2016.

Bridgewater Associates, the largest hedge fund in the world, recently issued a warning in a leaked private message to clients, "2019 is setting up to be a dangerous period for the economy [but] for investors the danger is already here."

Bloomberg has warned that America is headed for "something economically worse than the Great Recession".

American citizens are swimming in a $13.6 trillion debt pool, $1.5 trillion in student loans, and mortgage debts worse than before the 2008 crash.

Citibank has cautioned, "it's eerily reminiscent of the mortgage crisis."

The tech IPO market is superheated. 75% of companies making initial public offerings of stock are losing money yet 80% of IPO's in 2018 are trading above their respective IPO price.

Such speculative froth hasn't been seen since the top of the dot-com mania in 2000.

In the fullness of time current market levels should prove to be extreme peaks in valuations.

All technical, fundamental, seasonal and logical indicators point to "lower lows" to come for stocks in the intermediate and long term, and this continues to look like the typical action attending a lasting market top while Monthly Momentum remains on pace to become negative this summer.

See this post from early April on Monthly Momentum. 

Unless there's a massive rally during the rest of this week, Quarterly Momentum in the DJIA will turn downward for the first time since late 2014 which also happened just preceeding the four largest market drops of the past 20 years.


And in news of the ongoing Tesla exposé : The Future Of Tesla Hinges On This Gigantic Tent

NTSB Says Tesla Battery Reignited Twice After Fatal Florida Crash







We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.


Tuesday, June 26, 2018

Buying JNUG


Following up on the "Buying USLV" post of over a month ago, we'll enter a position in JNUG in order to increase our effective precious metals exposure when it trades to $13.85 or higher.

JNUG: "The Direxion Daily Junior Gold Miners Bull 3X Shares provides daily 3x exposure to an index of junior gold and silver mining companies from developed as well as emerging markets."

Sentiment against gold and silver has become bearish to a statistical extreme, so we're happy to accumulate bullish positions without a sell stop for the time being.








We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, me, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.